Daily Digit: 50% of profits

Saturday, November 24, 2012 - 00:58

Nov. 23 - Retailers can earn up to 50% of their profits during the holiday season. Conway G. Gittens reports.

▲ Hide Transcript

▶ View Transcript

The daily digit today is 50%.
Retailers can earn up to 50% of their profits and more than one-third of their annual sales during the holiday season that kicks off with Black Friday.
And sentiment seems to on their side.
Shoppers welcomed late-Thanksgiving night openings of stores like Target and Toys R Us, showing little restraint in spending money. There were concerns heading into Black Friday that the U.S. economy could be pushed over a "fiscal cliff," if a combination of tax hikes and spending cuts take effect in January.
Warnings about another recession by some economists seemed to go unnoticed at cash registers.
Across the country, store lines were long.
A recent Reuters/Ipsos poll showed that two-thirds of shoppers were planning to spend the same amount of money as last year or were unsure about plans, while 21% intended to spend less, and 11% planned to spend more.

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products: